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Masco Corporation is a global leader in the design, manufacture, and distribution of branded home improvement and building products, primarily focusing on the repair and remodeling (R&R) industry, with a smaller portion dedicated to new home construction . The company operates through two main segments: Plumbing Products and Decorative Architectural Products. Masco emphasizes leveraging its strong brands, product innovation, and customer service to drive growth and expand margins, while maintaining a disciplined capital allocation strategy .
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Plumbing Products Segment - Designs and manufactures a wide range of products including faucets, plumbing system components, valves, showerheads, bath hardware, bath units, tubs, shower bases, enclosures, shower drains, steam shower systems, sinks, kitchen accessories, toilets, spas, exercise pools, aquatic fitness systems, saunas, and water handling systems .
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Decorative Architectural Products Segment - Offers architectural coatings such as paints, primers, specialty coatings, stains, waterproofing products, paint applicators, and accessories, with the Behr brand being a significant part of this segment, sold exclusively through The Home Depot .
- With the ongoing uncertainty in the macroeconomic environment and your revised expectation of flat sales in the second half of the year, what specific strategies are you implementing to drive growth and mitigate the impact on your full-year sales guidance?
- Considering the increased commodity and ocean freight costs impacting both segments, can you elaborate on the specific cost savings initiatives and operational efficiencies you are leveraging to sustain margin expansion, and how confident are you in their long-term sustainability?
- You mentioned a 30% reduction in tariff exposure, but in light of potential abrupt changes in tariff policy, how prepared are you to manage additional tariffs, and what lessons from previous experiences are you applying to mitigate these risks effectively?
- Given that existing home sales are at historically low levels, which traditionally boost DIY spending, how are you adjusting your approach to address the continued softness in the DIY paint market and offset potential declines in this segment?
- With the M&A environment being quiet due to current rates and valuations, how do you plan to execute your capital allocation strategy to drive shareholder value, particularly if bolt-on acquisitions remain limited and you have committed to deploying approximately $600 million?
Competitors mentioned in the company's latest 10K filing.
- Dornbracht AG & Co. KG - Competitor in the plumbing products segment .
- Zurn Elkay Water Solutions Corporation - Competitor in the plumbing products segment .
- Fortune Brands Innovations, Inc.'s Moen, Rohl and Riobel brands - Competitors in the plumbing products segment .
- Kohler Co. - Competitor in the plumbing products segment .
- Lixil Group Corporation’s American Standard and Grohe brands - Competitors in the plumbing products segment .
- Spectrum Brands Holdings, Inc.'s Pfister faucets - Competitor in the plumbing products segment .
- Artesian Spas - Competitor in the spas, exercise pools, aquatic fitness systems and saunas segment .
- Harvia - Competitor in the spas, exercise pools, aquatic fitness systems and saunas segment .
- Jacuzzi - Competitor in the spas, exercise pools, aquatic fitness systems and saunas segment .
- Master Spas - Competitor in the spas, exercise pools, aquatic fitness systems and saunas segment .
Customer | Relationship | Segment | Details |
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The Home Depot | Largest customer, exclusive rights to sell Behr products | Decorative Architectural Products | $3.1 billion in net sales (39% of consolidated net sales in 2023) |
Ferguson | Significant but smaller portion of overall net sales | All | <10% of consolidated net sales in 2023 |
Lowe’s | Significant but smaller portion of overall net sales | All | <10% of consolidated net sales in 2023 |